The United Kingdom has pledged to invest over US$385 million in Myanmar in two years time, according to statistics of the Directorate of Investment and Company Registration.
The UK invested... [ More ]
The ADB granted $512m (?325m), while the World Bank approved a $440m credit.
The loans were made possible after Burma cleared overdue arrears to the two banks with the aid of Japan.
Burma, also known as Myanmar, has been implementing economic and political reforms, resulting in various sanctions against it being lifted.
"Myanmar has come a long way in its economic transformation, undertaking unprecedented reforms to improve people's lives, especially the poor and vulnerable," said...
Speaking in his office in Sakura Tower, Yangon, on January 11, Ren Geng said: “I think Myanmar is a very important market for Huawei, so we’re paying a lot of attention.”
However, Huawei, which operates in more than 140 countries, sees itself as a provider of telecoms solutions in the Myanmar market rather than as an operator, he said.
“The SEA Games will be very important as Myanmar opens up to world, and we have rich experience in supporting those kinds of events,” he said.
RANGOON — Burma’s government has taken a fresh step toward liberalizing its state-dominated telecommunications sector by publishing a notice on Wednesday inviting investment proposals from local and foreign companies for nationwide telecommunications services, including telephone and Internet connectivity.
State television also announced on Wednesday that the minister for communications, posts and telegraphs, Thein Tun, had resigned, but it was unclear whether it was related to the...
The government is lightening up: holding elections, freeing political prisoners, abolishing censorship, legalizing protests, opening to investment and tourists and welcoming back exiles. But the people still tread lightly, careful not to overstep or demand too much. Still, the consensus is clear: Change in Myanmar is "irreversible."
As the British Raj's jungle frontier, Burma was a key Asian battleground resisting the Japanese occupation of Southeast Asia during World War II. As with many...
The Information Ministry announced on its website that any Myanmar national wishing to publish a daily newspaper will be able to submit an application in February. New papers will be allowed to begin printing April 1 in any language.
The move was an expected part of new press freedoms President Thein Sein has introduced as part of wider democratic reforms since taking office last year, after a half-century of military rule.
In August, the government abolished direct censorship of the...
Officials said although President Barack Obama lifted import ban on Myanmar last month, the US Congress still needs to affirm details of trade policies for import.
Myanmar officials expect the bilateral trade to begin in 2013. They are now negotiating for relief of tariffs and quotas for Myanmar products.
Myanmar, as one of least developed countries, may get tax relief on its export products to the US, an official said.
The official added that removing non-tariff barriers and formulating...
By Aye Thidar Kyaw
Now that the law on direct foreign investment has been passed, and sanctions lifted, Myanmar is poised for a surge in economic activity.
Armed with technical advice from international financial institutions and based on examples from the region, the country wants not only to revise its tax laws and procedures, but also to change the way people look at tax.
Efforts are under way to make the taxation system fairer and more transparent, more compliant with democratic...
By Kyaw Hsu Mon
A US$15 SIM card for mobile phones is on the way – but only for foreigners.
The three-month cards will be on the market from June 2013 in the run-up to the Southeast Asian Games, said U Htay Win, chief engineer of the Department of Mobile Communications at Myanma Post and Telecommunications (MPT) on Monday, November 19.
The low-price cards will be on sale at airport information counters and sports villages to international athletes arriving for the games, said U Htay...
ENGLEWOOD, Colorado– The Western Union Company (NYSE: WU), a global leader in payments, has announced the signing of Myanmar Oriental Bank, its first Agent to offer Western Union® Money TransferSM Services in Myanmar. The service will offer Myanmar citizens a reliable and swift way to receive money from family and loved ones from around the world.
Western Union is one of the first global money transfer companies to operate in Myanmar, paving the way for formalized international money...
YANGON, Myanmar – The U.S. has appointed an ambassador to Myanmar and helped bring in American businessmen keen on doing business in the rapidly reforming Southeast Asian nation.
Now, Washington is sending professional basketball players and coaches in a bid to boost cultural ties.
The U.S. Embassy said Sunday that four “sports envoys” have arrived in the country as part of a U.S. State Department-sponsored program “to emphasize the importance of academics, cooperation, and respect for...